Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

We can all agree that this initiative is a vital source of non-bank finance for businesses. Overall, it has not been as successful as anticipated originally as a replacement for the business expansion scheme. I make the general point that the longer an investment is allowed to retain the investment the better, and the longer period over which one can spread the tax relief the better. That makes the scheme more attractive and it has the potential to be quite a valuable source of non-bank finance. I want the Minister of State to put on the record the current data that he has on the EII scheme and how effective it has been.